A Budget That Works for Everyone 

Washington is facing a budget shortfall, and once again, the choices we make will determine who bears the burden. For too long, our state has relied on a tax system that asks the most from those with the least while allowing the wealthiest to contribute far less than their fair share. We have the opportunity—and the responsibility—to change that. 

Progressive revenue isn’t just about closing budget gaps; it’s about ensuring Washington can invest in the public goods that make our communities strong: quality schools, accessible healthcare, reliable infrastructure, and a safety net that catches people when they fall. By modernizing our tax code, we can build an economy that works for everyone, not just those at the top. That means prioritizing policies that ease the burden on working families while making sure the wealthiest Washingtonians and big corporations contribute fairly.

This week, my colleagues and I have unveiled a package of proposals that bring balance to our tax code and ensure we can fund essential services—like schools, housing, and public safety—without putting the squeeze on those who can least afford it.

Here’s what we’re proposing:

✅ A Financial Intangible Assets Tax (FIT) – This applies a tax on stocks and bonds owned by ultra-wealthy individuals (exempting the first $50 million) to generate $2 billion per year for K-12 education. Also exempt from the tax are pensions, retirement accounts, and education savings accounts. Homeowners already pay property taxes on their biggest asset—their home. This ensures that those whose wealth comes from financial assets contribute their fair share, too.

✅ School & Public Safety Funding Adjustments – Our proposal allows property tax growth to reflect inflation and population increases (capped at 3%) and ensures rural school districts receive fair funding. This brings in $50 million in 2026 and $150 million in 2027 for K-12 schools.

✅ Surcharge on High-Grossing Corporations – We’re asking the biggest corporations and financial institutions—those making over $250 million a year—to pay a modest surcharge, generating nearly $2 billion by 2027. Small businesses won’t be affected, but this will help protect public services that working families rely on.

This isn’t just a fiscal debate—it’s a question of values. A budget is more than numbers on a page; it’s a reflection of what we believe in. And I believe in a Washington where opportunity isn’t dictated by zip code, where every child has access to a great education, and where no one is left behind simply because our tax code wasn’t built for them. Now more than ever, we need a budget that serves the people—not just the powerful.

Realities of “No New Revenue”: DEEP CUTS TO CRITICAL SERVICES

Due to increasing needs, rising inflation, and slowing revenue growth, Washington state is facing a budget deficit. Washington’s tax structure requires more spending by low- and middle-income residents, and with the wealth gap growing between billionaires and regular working families, we’re all falling behind.

For those considering an all-cuts, no-revenue approach, we must look at what that means: catastrophic cuts to healthcare, childcare, education, public safety. These aren’t just numbers on a page—these are programs that keep families and individuals afloat and cuts will result in real harm to real people across our state.

We don’t have to accept this. We can support policies and bills that protect all people, invest in our future, and makes sure Washingtonians see gains across all income levels!

🔹 Learn more about the impact of budget cuts here

Beware of Scam Texts Posing as WSDOT!

Scam text messages claiming to be from WSDOT’s Good To Go! tolling system are on the rise, urging recipients to pay for supposed unpaid tolls via fraudulent links. These messages look more realistic than past scams, leading more people to fall victim.

To protect yourself:

✔ Do NOT click links, reply, or make payments—Good To Go! will only request payments via MyGoodToGo.com, customer service phone line (1-866-936-8246), or mailed billing notices.

✔ Report and delete—Mark the message as spam and report it to the FTC at reportfraud.ftc.gov.

State agencies are actively working to combat these scams, but staying vigilant is the best defense. If you have any concerns, visit WSDOT’s official website for updates.

Apply for the Legislative Youth Advisory Council

Are you a young leader passionate about making a difference? The Legislative Youth Advisory Council (LYAC) is seeking dedicated students in grades 7-10 to represent their peers and advocate for youth-centered policies.

As a LYAC member, you’ll:

• Meet with legislators and community leaders
• Testify on issues that matter to Washington’s youth
• Help shape state policy and organize events
• Participate in in-person and virtual meetings throughout the year

Applications are open now and due by April 30, 2025, at 11:59 PM. If you or a student you know is interested in public service, I encourage you to apply and be part of the next generation of civic leaders!

Apply here ⟶

As always, I’m honored to serve as your representative and advocate for the issues that matter most to our community. Your voice is essential in shaping our future, and I encourage you to stay engaged—whether by sharing your thoughts, attending town halls, or reaching out to my office.

Thank you for being an active part of our democracy. I look forward to continuing this work together and keeping you updated on the progress we’re making.

Warmly,

Rep. Shelley Kloba